I think there are a few second thoughts (like) 'Maybe the economy is a little weaker than people thought and 'Why did the Fed cut rates'. There's a holiday in the U.S. Monday. I think (the market) is going to be pretty subdued.
More Quotes from David Thwaites:
It's a familiar story. The market is trying to build a floor but the news flow on the corporate side isn't consistently good enough to build a rally.David Thwaites
The background news isn't that good with Iraq and corporate news isn't that positive, so it's probably a good reason for people to step back. We've also got technical things going on pushing things all over the place.
David Thwaites
Reality bites. Micron underlines that despite the market run-up recently, there's still no confidence about growth and earnings.
David Thwaites
Markets are subdued ahead of the Fed (U. S. Federal Reserve) meeting on Tuesday. It's not clear what the Fed's intentions are.
David Thwaites
I think there are worries about key economic data coming out today and the rest of the week, which is taking the focus off the recovery that is supposedly occurring.
David Thwaites
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